Joe's Blog

FHA is absolutely the best deal going for first time home buyers or home buyers who want to put a small percentage down for down payment.  The FHA loan alllows you to put as little as 3 percent down when buying or refinacing.  Also, FHA insures loans up to $729,750.  Rates are competitve and the approval process is not that difficult.  The key is getting approved and selecting a purchase price that fits within your budget.  In addition, unlike conventional loans where you need A plus credit to get approved, the FHA loan allows for less than a perfect credit history in the past.  For people who currently have a subprime loan, FHA can also be a viable solution.  I recently refinanced a couple with a credit score below 600.  This couple got out of their high interest subprime loan and got the FHA loan that was fixed and with a great interest rate.

Joe